Logo of Taiba Investments Co.
Taiba Investments Co. granted the primary building agreement for the Novotel hotel job in Madinah, which will be developed on land owned by its subsidiary, Al Aqeeq Real Estate Co., at an overall worth of SAR 238.31 million (leaving out value-added tax), to Orient Construction Company Weavers Ltd.
In a declaration to Tadawul, the business explained that the land, covering an overall location of 1,822 square meters, lies west of the Prophet’s Mosque in the main location of Madinah.
The 4-star Novotel hotel makes up 18 floorings, a mezzanine and 12 regular floorings, with 394 spaces and royal suites. The hotel will have a main dining establishment, trade fairs, parking area as well as hotel services assigned from the 4th basement approximately the mezzanine flooring.
There are no associated celebrations, the declaration stated.
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